SIMPSON, Judge:
The respondent determined a deficiency of $17,811 in the petitioner's 1961 Federal income tax. The only issue for decision is whether the petitioner is entitled to a loss for the abandonment of certain intangible assets in 1961.
FINDINGS OF FACT
Some of the facts have been stipulated, and those facts are so found.
The petitioner, Massey-Ferguson, Inc. (M-F, Inc.), is a Maryland corporation, which had its principal place...
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